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ARTICLE · 01 NOVEMBER 2013

Update AIFM Tax Act

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The German Act on the Adaption of Investment Fund Taxation in Connection with the AIFM Directive (the "AIFM Tax Act") did not pass the legislative process prior to the Federal Election. Initially, it was envisaged that the AIFM Tax Act should enter into force on 22 July 2013.

GermanyFinance and Banking
Uwe Bärenz
Uwe Bärenz
Ronald Buge
Ronald Buge
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The German Act on the Adaption of Investment Fund Taxation in Connection with the AIFM Directive (the "AIFM Tax Act") did not pass the legislative process prior to the Federal Election. Initially, it was envisaged that the AIFM Tax Act should enter into force on 22 July 2013.

The AIFM Tax Act failed due to a dissent regarding the so-called pension asset pooling.

Some States brought a new draft of the AIFM Tax Act to the Federal Council (Bundesrat). The Federal Council (Bundesrat) is to initiate a new legislative process. The new draft shall be classified as "urgent matter".

The new draft is substantially similar to the previous AIFM Tax Act that failed prior to the Federal Election. Below we summarized certain material points of the new draft:

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